Oct 31, 2012 3:00pm EDT
allstate's ceo coming up, a lot more on the post sandy edition of "the closing bell." >>> coming up, back to business. an historic reopening of wall street and we have all the angles covered from every exchange. who won, who lost and what companies rose above a very shaky october for the markets? >>> plus taking stock. despite sandy's path of destruction, there are lots of big earnings. we catch you up on reporting results. we bring you the latest numbers and analysis from our market experts. and is sandy a case for big government? why some are using the superstorm to say big government really is better. we separate the fact from fiction of that argument. that's all ahead on this special edition of "the closing bell." customer erin swenson bought from us online today. so, i'm happy. sales go up... i'm happy. it went out today... i'm happy. what if she's not home? (together) she won't be happy. use ups! she can get a text alert, reroute... even reschedule her package. it's ups my choice. are you happy? i'm happy. i'm happy. i'm happy. i'm happy. i'm happy. happy. happy. happy. happy.
Oct 30, 2012 3:00pm EDT
some of the companies like allstate or travelers which have a lot of exposure as well, some good buying opportunities. even though the numbers are high here, potentially as high as the $20 billion range, there's enough capital to deal with this. i think it could be a buying opportunity. >> we're trying to anticipate the nature of the markets tomorrow when we open after two days being off. it's hard to assess that before it actually happens. do you think there might be a number of people who will want to raise cash and maybe want to sell in this market environment as they try and rebuild? is that going to be a trend for a while, do you think? >> well, certainly the insurance companies are going to have to raise cash because they're going to have to pay out. we'll see all sorts of markets that may have stocks for sale. it is month end as well. i think you have some portfolio rebalancing. some mutual funds have their fiscal year happening. i think the market will certainly get tested to see if they're ready for it because it's month end and the need for people to raise money. if you
Oct 31, 2012 3:00pm EDT
comes out a winner here? >> well, you know, we like allstate. if you look for some context, look at the group you had before. the industry has been doing well because they have been raising pricing. allstate is the easiest sort of long-term pricing recovery story because they have a substantial number of captivation. they sell only one product. allstate is able to push pretty substantial price increases through when they need to. that is the company good earnings. they have had a lot of momentum. i think it is a hick up in the story. liz: josh, good to see you. thank you so much. josh sterling. watch those insurers. it will change moment by moment. dow jones industrials looks like making a go. turning positive right now. well, actually, about a half of a point. we have been up 81 points today. we have so much to talk about. the barracks, the earth movers, the home numbers, they have building products that will be needed for the post hurricane cleanup. all of that and much more coming up. stay tuned. ♪ this is america. we don't let frequent heartburn come between us and what we lov
Oct 31, 2012 4:00pm EDT
the head of allstate insurance about the massive disaster relief efforts under way, how fast are they paying the claims and what kinds of impacts investors can expect to see on the bottom line. >>> later the government's role in recovering from sandy has raised debate whether bigger government is necessarily better. we'll discuss both sides of the argument off of that hot issue in a few minutes. stay with us. >>> welcome back. one of the companies reporting earnings today in the thick of the recovery from hurricane sandy. tom wilson is ceo of allstate insurance and joins us now exclusively after reporting earnings. what timing, tom. >> hi, maria. how are you? >> i'm doing okay. i want to get to your earnings in a moment but here we are in terms of insurance being on the front center given the fact that so much destruction has occurred. let me talk about andy before we get into the earnings, tom. lot of people wondering what kind of damage we're expecting. how do you see it? >> well, this is a massive storm, maria. there's two things that drive a storm, the damages, one is how big